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2015-09-22

Frontline Ltd.: FRO - Termination of charter-in contract of Front Splendour

Frontline Ltd. ("Frontline" or the "Company") has agreed with Ship Finance
International Limited ("Ship Finance") to terminate the long term charter for
the 1995 built Suezmax tanker Front Splendour, which has surveys due end this
year. Ship Finance has simultaneously sold the vessel to an unrelated third
party. The charter with Ship Finance is expected to terminate in the fourth
quarter of 2015.

Frontline will receive a compensation payment of approximately $1.3 million
from Ship Finance for the termination of the current charter.

Following this termination, the number of vessels on charter from Ship Finance
will be reduced to 15 vessels, including 12 VLCCs and three Suezmax tankers.

September 22, 2015
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda

Questions should be directed to:
Robert Hvide Macleod: CEO, Frontline Management AS
+47 23 11 40 00

Inger M. Klemp: CFO, Frontline Management AS
+47 23 11 40 00
Forward Looking Statements

This press release contains forward looking statements. These statements are
based upon various assumptions, many of which are based, in turn, upon
further assumptions, including Frontline management's examination of
historical operating trends. Although Frontline believes that these
assumptions were reasonable when made, because assumptions are inherently
subject to significant uncertainties and contingencies which are difficult or
impossible to predict and are beyond its control, Frontline cannot give
assurance that it will achieve or accomplish these expectations, beliefs or
intentions.

Important factors that, in the Company's view, could cause actual results to
differ materially from those discussed in this press release include the
strength of world economies and currencies, general market conditions
including fluctuations in charter hire rates and vessel values, changes in
demand in the tanker market as a result of changes in OPEC's petroleum
production levels and world wide oil consumption and storage, changes in the
Company's operating expenses including bunker prices, dry-docking and
insurance costs, changes in governmental rules and regulations or actions
taken by regulatory authorities, potential liability from pending or future
litigation, general domestic and international political conditions,
potential disruption of shipping routes due to accidents or political events,
and other important factors described from time to time in the reports filed
by the Company with the United States Securities and Exchange Commission.

Important Information For Investors And Shareholders

This communication does not constitute an offer to sell or the solicitation of
an offer to buy any securities or a solicitation of any vote or approval. In
connection with the proposed transaction between Frontline and Frontline
2012, Frontline will file relevant materials with the Securities and Exchange
Commission (the "SEC"), including a registration statement of Frontline on
Form F-4 that will include a joint proxy statement of Frontline 2012 and
Frontline that also constitutes a prospectus of Frontline, and the joint
proxy statement/prospectus will be mailed to shareholders of Frontline 2012
and Frontline. INVESTORS AND SECURITY HOLDERS OF FRONTLINE 2012 AND FRONTLINE
ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS
THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors
and security holders will be able to obtain free copies of the registration
statement and the joint proxy statement/prospectus (when available) and other
documents filed with or furnished to the SEC by Frontline through the website
maintained by the SEC athttp://www.sec.gov. Copies of the documents filed
with or furnished to the SEC by Frontline will be available free of charge on
Frontline's website at http://www.frontline.bm. Additional information
regarding the participants in the proxy solicitations and a description of
their direct and indirect interests, by security holdings or otherwise, will
be contained in the joint proxy statement/prospectus and other relevant
materials to be filed with or furnished to the SEC when they become
available.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Frontline Ltd. via Globenewswire

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